\ ˈlan-ˌyap , lan-ˈyap \
: a small gift given to a customer by a merchant at the time of a purchase; broadly : something given or obtained gratuitously or by way of good measure
Mother, by Joaquin Sorolla y Bastida, Sorolla Museum, 1895
Calm in the Storm
Have you checked your portfolio lately? Have you purchased gas or groceries recently? Between market volatility and record-setting inflation, it seems like there is no shelter in this financial "storm." I was contemplating these challenges earlier this month as we approached Mother's Day. It occurred to me that in the most difficult days of my childhood, my Mom was a shelter from the world. She was always the "calm in the storm" when we were hurt, broken hearted, or just needed some motherly advice.
My thoughts transitioned back to these furious financial conditions, and I wondered what kind of Motherly advice she or other Moms would offer us on our finances. So, I have collected several bits of financial wisdom from Moms that will help you through (or even avoid) the financial storms of life. Enjoy!
Motherly Advice
Moms are an ever-present source of comfort or correction, and they somehow manage to help us at just the right time. In other words, their comfort or corrections help when we need it most. As we face a difficult financial climate, consider these wise words of Motherly Advice:
Don’t fall in love with something that won’t love you back. Advice from my mother when I ‘fell in love’ with a car that was out of my budget.
– Amy Fox
Best investing advice from Mom: Buy and hold.
- Megan Flynn
Always have a list! My mom taught us to make a list before going to the store. We would sort it by necessity on top, followed by a few wants if budget allowed. Of course, now that times have changed, I research prices on my list before heading to town, so I stay on budget.
– Stephanie Wallenstein
My Mom stressed being industrious. There was no one in my life growing up more industrious than my mom. She worked two jobs – as a secretary during the day, and a waitress at night – to support me and my siblings and allow me to pursue my dreams.
- Alex Rodriquez
Once, as a teen, I asked my mother for some new clothing, and she explained that the timing wasn't right to spend money needlessly, as she and my dad had just paid for a major home repair. Worried, I asked how they planned to deal with that expense. That's when my mom sat me down and explained the importance of having an emergency fund -- money to get yourself through life's financial hiccups.
- Maurie Backman
If you use a credit card to build credit, always pay the full balance.
– Kary Austin
My mom taught me how to negotiate during the purchase of my car as well as how long to financing it.
– Brittany Crawford-Purcell
The best financial advice my mother ever gave me was to avoid high-interest credit card debt. My mom has always been a bit more of a spender than a saver, but she made a point to never spend beyond my parents' ability to pay their balances in full each month.
- Matt Frankel
It doesn’t hurt to ask (for a deal). If you don’t ask, the answer will always be no.
– Gail Dixon
(Mom) told me there was no free lunch. If I wanted to do all the things my friends were doing, I needed to pay for it myself – so go figure it out.
- Doug Lebda
Always make sure you have a little fun money set aside.
- Christy Beiber
Be organized. She was always organized, which meant that she never got boxed in to paying extra for something because it was a last-minute rush. Being organized also meant that she bought just enough food for the week – without buying too much and having to throw it out when it spoiled.
- Pat Kiernan
Never borrow or lend money. If you want to give someone money, then give it, but don’t give away anything you can’t afford to lose.
- Jillian Michaels
Budget and stick to that budget! If there’s something you want, instead of just going out to get it with a credit card or loan, think on it first.
– Dineace Minnick
Whenever I received money as a gift my mom would always have me put half of it in savings. I never liked having to do that as a kid, but now I’m thankful she taught me the importance of savings from an early age.
– Lisa Edgette, Manager
My mom, now 87, was a passionate, self-taught investor. When I started my first real job after college, she told me: "Contribute the maximum out of every paycheck into your IRA. You won't miss it and it will grow tax-deferred for many, many years." I can attest to her wise advice and have instructed my kids to do the same.
- Lauren Eder
Save each month and don’t smoke!
- Fred Wlodarski
Make sure anything you go into debt for will have a value that is higher by the time you pay it off. Looks are deceiving.
– Michele Kulish
Money is just a tool: Having piles of money is not the goal. Being able to be generous is the true goal. She also taught me not to be timid about investing, as a woman. In my family, I’m the investor, and my husband, bless him, appreciates that.
- Greta Lacin
Many thanks to Jason Zweig, The Wall Street Journal, May 17, The Intelligent Investor, and other contributors who shared their Mother's wisdom.
Laissez les bons temps rouler
Mary's Recipe Corner
Grandy’s Hot Artichoke Spinach Dip
This recipe is from Bill's mom. Our kids called her "Grandy," a blend of Grandma and her nickname, Candy (because she was so sweet!). She passed away December of 2020, and in honor of May being her birth month and Mother’s Day, I share this recipe.
This recipe is famous in our house because Candy had it published in Taste of Home’s Holiday & Celebrations Cookbook 2006. The recipe’s writeup said that this was a favorite of family and friends. When we saw the printing of this recipe, the five of us (the largest portion of her family) had never tasted, nor even heard of this “family favorite.” When we pointed this out to her, she made sure the dip was prepared for the rest of us on our next visit, and then it became a true "family favorite." 😉 Enjoy!
In a skillet, cook onions and butter until tender. In a large bowl, beat cream cheese. Stir in the rest of the ingredients except the Parmesan. Place in greased 1-1/2 qt. baking dish. Bake uncovered 350 degrees 25-30 minutes or until bubbly around edges. Top with Parmesan and broil until golden brown. Watch carefully to avoid burning. Serve warm with Fritos to ALL your family members! 😉
Unbaked, this freezes well to serve when the need arises.
Yields 5 cups
bon appétit!
For Art's Sake
As some of you may know, I am an art enthusiast. If you grow up in New Orleans you learn to appreciate art (and food and music and parades, etc.), so it seems appropriate to share a bit of our culture with our readers.
A Mother's Love on Memorial Day
Quite poignantly, the month of May has both Mother's Day and Memorial Day. In their unique ways, they are intended to honor those who have sacrificed everything for our very lives.
Normal Rockwell (1894-1978), painted some of the most touching depictions of American life. The homecoming (below) appeared on the cover of the Saturday Evening Post. Rockwell created this image of American life after the Second World War. It shows a family's celebration of a returning Soldier, with the central prominence of the overjoyed Mom. Sadly, far too many Mothers will never celebrate the return of their son or daughter.
The homecoming, Normal Rockwell, Smithsonian American Art Museum, 1945